Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in India has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the Indian Residential Real Estate Leases market have shifted towards renting rather than buying properties. This is due to various factors such as the rising cost of homeownership, changing demographics, and a desire for flexibility. Renting allows individuals to avoid the high upfront costs associated with purchasing a property, and it also provides them with the flexibility to move to different locations as needed. Additionally, the younger generation in India is increasingly opting for renting as they prioritize convenience and mobility over long-term property ownership. Trends in the Indian Residential Real Estate Leases market reflect this shift in customer preferences. There has been a surge in demand for rental properties, particularly in urban areas. Real estate developers and investors are capitalizing on this trend by focusing on the construction of residential properties specifically designed for leasing purposes. These properties often come with amenities such as fully furnished interiors, security services, and access to recreational facilities. The market has also witnessed the emergence of specialized rental platforms and agencies that cater to the needs of both tenants and landlords, making the process of finding and leasing properties more efficient and convenient. Local special circumstances in India have further fueled the growth of the Residential Real Estate Leases market. Rapid urbanization, population growth, and the increasing number of nuclear families have created a high demand for rental properties. Additionally, the influx of young professionals and students into major cities has contributed to the rising demand for affordable and well-located rental accommodations. Furthermore, the Indian government has introduced various policy reforms to promote the development of the rental market, such as the implementation of the Model Tenancy Act, which aims to regulate the relationship between landlords and tenants and provide a more transparent and efficient rental market. Underlying macroeconomic factors have also played a crucial role in the development of the Indian Residential Real Estate Leases market. The country's strong economic growth, coupled with favorable demographic trends, has created a conducive environment for the expansion of the rental market. Additionally, the increasing urbanization and the growth of the services sector have led to a rise in employment opportunities, attracting people from rural areas to cities. This has further fueled the demand for rental properties. In conclusion, the Residential Real Estate Leases market in India has experienced significant growth due to shifting customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. The demand for rental properties is expected to continue to rise as more individuals opt for the convenience and flexibility offered by leasing rather than buying properties.
Data coverage:
Figures are based on total and average revenue of residential apartment leases.Modeling approach:
Market size is determined by a bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war considered at a country-specific level.
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